Petroleo Brasileiro Petrobras : Oil and natural gas output in February

We report that our total oil and natural gas output was 2.82 million barrels of oil equivalent per day (boed) in February, of which 2.703 million boed produced in Brazil and 113,000 boed abroad.

The average oil output in the country was 2.20 million barrels per day (bpd), 1 percent less than in January. This outcome is mainly due to the shutdown of FPSO Cidade de Paraty, located in Lula Nordeste field, in the Santos Basin pre-salt, and to the end of the Early Production System (SPA) testing stage in operation at the Búzios field under the Transfer of Rights system. The purpose of the SPA was to collect information about the behavior of the reservoirs in this field.
In February, natural gas production in Brazil, excluding the liquefied volume, was 80.2 million cubic meters per day, 1 percent less than in the previous month, mainly due to the scheduled shutdown of FPSO Cidade de Paraty.

Output of the pre-salt

In February, the oil and natural gas output we operated (own and partner share) in the pre-salt layer added up to 1.53 million boed. This volume was 41 percent above the output in February 2016. Compared to January this year, however, this volume represented a 3 drop due to the scheduled shutdown of FPSO Cidade de Paraty, in the Lula Nordeste field, and to the end of the SPA test stage in the Búzios field.

Oil and gas production abroad

In February, oil output at overseas fields was 63,500 bpd, 8 percent less compared to the previous month's mark. Natural gas production was 8.4 million cubic meters per day, 3 percent below that achieved the month before. This performance resulted mainly from the operating shutdown at the Lucius and Hadrian South fields, in the US, due to the limitation of production flow, which is carried out through third-party facilities.